Swedish sportswear brand Björn Borg has reported a 6% increase in net sales for the first half of fiscal year 2023, reaching SEK 518 million (approximately $49.7 million)..
**Key Financial Highlights:**.
* Net sales grew by 6% to SEK 518 million ($49.7 million).
* Operating profit increased by 27% to SEK 61 million ($5.8 million).
* Gross margin improved by 1.3 percentage points to 55.6%.
**Growth Drivers:**.
Björn Borg attributed its sales growth to several factors, including:.
* Strong demand for its core underwear and sportswear categories.
* Expanded distribution in key markets.
* Successful marketing campaigns.
**Geographical Performance:**.
The brand’s growth was driven primarily by the Nordics region, which contributed 60% of net sales. Other notable markets include Germany, the Netherlands, and the United Kingdom..
**Strategic Initiatives:**.
Björn Borg continues to focus on its omnichannel strategy, investing in both online and physical retail experiences. The company also emphasized its commitment to sustainability, with plans to further reduce its environmental footprint..
**Management Commentary:**.
Henrik Bunge, CEO of Björn Borg, commented:.
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